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Gold Down Almost 20$ Today

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Guest Riser

Any ideas why / reasons ?

Could be the pull back people have been saying

Was to be expected it needed to pull back and build strength before te push past $600. Price traditionally dips this time of year and no doubt the centralbanks will be adding whatever downward pressure they can muster. Dr Bubb has been predicting a pull back for a couple of weeks, question is now where will the slide stop before it bounces, I suspect around $530 although many expect lower around $500.

Made my first spreadbet today SELL gold from $568 closed around $558 just wish I had gone for a higher stake but still just learning the ropes. Nice to be able to make a bit of cash from price falls to offset the loss of profit on my longs.

Edited by Riser

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Hmm, governor Ben's first day in office? Perhaps someone decided to dump a load on the market.

Glad I was at home to see it - sold all my gold stocks. Feel a lot happier being out for a while.

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Hmm, governor Ben's first day in office? Perhaps someone decided to dump a load on the market.

Glad I was at home to see it - sold all my gold stocks. Feel a lot happier being out for a while.

I listened to a webcast on FinancialSense with Jim Puplava and guest G. Michael Bolser, who seemed pretty convinced the Fed were about to unleash a war on gold to bring the price down. Maybe this is the start of it? Those M3 figures have been very high recently - maybe they're using it to crash the price of gold?

Regards,

crude

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or maybe its just the dip which was expected at some point ? :)

ah - but that wouldn't make a good conspiracy theory would it ;)

The interview is worth listening to - it's the 3rd hour, about 10 minutes in.

Regards,

crude

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im all for a good conspiracy theory. but i also think maybe we all jump to conclusions way too fast, for what could be just a simple pull back!

We will see, if it is what you say it could be, how far do you think it could go back ?

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The problem with investing in gold is, IMHO, its volatility. Over the long haul its a bad investment with spikes and crashes that none can predict with any degree of accuracy. How has gold done compared with the major stockmarkets over the past 30 years?

The world is facing a fuel shortage of Biblical Proportions and nations are scrambling to find a way to reduce oil dependency. Coal and sugar offer some interesting possibilities as new technology cleans up the black gold and ethanol/sugar powered cars becomes a reality.

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so how much further is this likely to fall? I'm still up on my buying position, but don't want to see it go much further.... on the other hand, I'll be happy to ply more in when the correction bottoms.... hmmm

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It's about time there was a decent correction in the gold market, and after their recent pow-wow I'm sure the Western governments are eager to get on with knocking the price down.

Over the long haul its a bad investment with spikes and crashes that none can predict with any degree of accuracy.

Over the long haul it's a heck of a lot better than holding dollars or pounds. Personally I don't see gold as an investment though: it's more a means of maintaining purchasing power when governments are trying desperately to destroy their currencies... real wealth-creating investments should obviously do better than that.

Edited by MarkG

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Over the long haul its a bad investment with spikes and crashes that none can predict with any degree of accuracy. How has gold done compared with the major stockmarkets over the past 30 years?

I've made nearly 100% with my gold shares in the last nine months. Who needs a "long haul" with gains like these.

Shall I sell and realise my gains? No need - it's a bull market.

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I've made nearly 100% with my gold shares in the last nine months. Who needs a "long haul" with gains like these.

Shall I sell and realise my gains? No need - it's a bull market.

Precisely!

Trade it far all it's worth, then dump it when there's nothing left. Buy and hold is dead.

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Guest Bart of Darkness
I listened to a webcast on FinancialSense with Jim Puplava and guest G. Michael Bolser, who seemed pretty convinced the Fed were about to unleash a war on gold to bring the price down. Maybe this is the start of it? Those M3 figures have been very high recently - maybe they're using it to crash the price of gold?

I'm sure they'd like to, but what resources do they have at their disposal to try and bring this about? (newbie question alert!)

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im all for a good conspiracy theory. but i also think maybe we all jump to conclusions way too fast, for what could be just a simple pull back!

We will see, if it is what you say it could be, how far do you think it could go back ?

Best to listen to the webcast really - I've got no idea how far gold would drop back or go up. Noone does really.

Webcast - Mr Bolser starts at 1 hour and 1 min. The gold discussion starts at 1hour and 9 mins.

Regards,

crude

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Guest Bart of Darkness

Hi cgnao.

I know you're a confirmed goldbug but would you feel secure having all your money in gold.

75% seems a pretty high percentage already.

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Hi cgnao.

I know you're a confirmed goldbug but would you feel secure having all your money in gold.

75% seems a pretty high percentage already.

On the contrary. I have actually started to feel reluctant to more than £1000 or equivalent in sterling or any other paper currency....

When I have converted the remaining 25%, I'll just keep £500 in cash, £500 in my current account and anything left on top of this every month will be converted into gold as soon as it hits the bank.

I have no need to make a return ON my capital. All I want is the return OF my hard earned capital.

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Why Im bearish on metals and even gold,

Interest rates going to 5% USD ?

Imminent end to the Yen carry trade?

Interest rates going up everywhere ?

Soaking up of the huge liquidity bubble the global markets are awash with ?

deflation ?

did you notice nearly ALL MARKETs went down today ? ! ! that means money came out of everything !! did you also notice the unwinding of carry trdes in the JPY crosses versus ALL the majors?

what happens when the BOJ rates interest rates to 0.25% ?

the end of free money. did you hear me the end of free money? gold is only any good in a freee money society because in a free money society assets can have any value you like, inflation can explode you have to hold gold to have any purchasing power. but when the money dries up how will everyone finance the huge liqudity that permeates even the crappest of US and UK assets. thats why i would sell every last ounce i had gold is a flag of inflation but in deflation as in 2002 gold is crap as an asset the best you can do is sell it before everyone else does.

I know what your thinking I'm mad, consensus say gold is good, gold is contrarian, all that glitters is gold, beleive me ive been there, I liked gold too. but then the facts have changed and so have I.

Regards

crazy gold bear.

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even with this drop i am like cgano itching to convert all my house sale profit into gold.

I do not need to buy a house as I live with wife place, etc, etc.

I have very considerable amount of cash that I only managed to convert to GOLD that is only 15%. there is a lot of cash left that i am waiting for the right time to change to gold.

I feel lonely in my thinking but I just can not trust man made paper money.

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I'm Bullish on Gold, but I am not willing to put all my cash into it.

If the value of my cash goes down, so does every elses!

If gold goes down it is probably due to money tighening (IRs up), but this means a HPC!!! :)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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